Hi Davie I take on board wholeheartedly your opinion based on...

Hi Davie I take on board wholeheartedly your opinion based on the fact you presented... the fact that the failed Incyte/Merck combo was a riskier punt. Well lets hope you are right that "VLA's long-term insto holders would be talking to Merck about whether the current offer is appropriate". An outcome from that is far more likely to be positive for the SP than shareholders knocking back the offer with a NO vote.

Given the info you shared (which is enlightening, btw), I still do not believe retail shareholders should have the attitude of voting NO to the offer (whether it be the current one or a counter one)... not that their votes will have much bearing. The worst case scenario for VLA shareholders is to end up back on the market... imo. I could be wrong, but would hate to have to test it.

Thanks, Davie, for your input. I have appreciated your insightful contributions over the years.